"[Music] hello and welcome everyone I'm Patrick oesi and this is invest like the best this show is an open-ended exploration of markets ideas stories and strategies that will help you better invest bot..."

"Jared has lived more life than just about anybody I know his age he ran Kushner companies for years investing in real estate in and around New York City he owned the New York Observer he was a senior ..."

"life in the sense that if something doesn't happen instead of of being upset or emotional about it's more productive to say okay well this is a teaching lesson and a training opportunity and I think i..."

"basically wake up every morning be grateful for all the things I have I pray every morning and when I do I just thank God for all the blessings I have and I find that it's the same words and the praye..."

"value that you can create from the retail so one of the the good things we did was we bought it with a capital structure that allowed us to unlock the condominium of the retail from the office buildin..."

"challenged because we lost tenants and then the office building component went through a big ret tenting we ended up bringing in Fado into the deal recapped it was able to turn him out the debt and it..."

"meetings and a lot of people were making a lot of threats and as a young person I really learned how to deal with very complex negotiations with very very high stakes what was the stress like you were..."

"wanted to accomplish so coming out of that deal I learned a million and a half lessons from it so I find in life you learn very little when things go right you learn a lot when things go wrong and I l..."

"franchise for understanding where the tech tenants wanted to be buying old Warehouse buildings and then designing them in a way that these tenants wanted and giving them the great modern infrastructur..."

"Investors negotiate differently than others that you've dealt with if it's an especially Cutthroat hardcore place an asset class anything stand out from your many negotiations with New York real estat..."

"and what they want you just have to listen if you listen to people they tend to tell you what's important to them why don't more people do that well probably insecurity people generally either come wi..."

"and I saw this in government as well because in government most of the people I dealt with had never really negotiated before if you think about people who are technically experienced in government th..."

"always tried to be the one who they felt the best about and who built a reputation as when I say I'm going to do something I do it and somebody who's not going to play games not going to jerk them aro..."

"and this was on one of my first trips overseas I sat with MB Zed who's now the president of UAE at the time he was the Crown Prince but he was the deao ruler of the country and I spent the first hour ..."

"thoughts that I had and then pulling thoughts out of him and getting his responses to help me shape some of the different approaches I was thinking of taking he said to me at the end of the conversati..."

"breakthroughs that we were able to accomplish and again it goes through the same thing I was doing in New York real estate when I was doing it in diplomacy it was very simple I was sitting with somebo..."

"think that that's the right formula for people to be using going forward for diplomacy not how do we outm militarize each other I think military is an important component to it but to have an end Stat..."

"change because of complex histories it starts with understanding that all leaders are human beings and I think maybe because the two foremost leaders who were mentors to me was number one my father yo..."

"break out and they needed to get them focused on economics instead of extremism and that was the permeating undertone of what we thought was like a better chance and I think because they'd seen the fa..."

"create that impetus for change then I found that leaders had a lot of courage in order to get there a lot of these leaders in particular in the Middle East for them they had a real vision for what the..."

"migrate their situations was a very critical element of what we were able to accomplish I want to ask a lot today about the relationship between governments and the business communities in different c..."

"way more knowledge of all the problems there's not going to be as much learning on the job as there was last time he's surrounded by a phenomenal team of people throughout the government in all areas ..."

"straightened out very quickly I think the geopolitical issues are probably number one Russia Ukraine I think that that obviously when you have a nuclear power in a state of conflict that creates risk ..."

"manageable as well you want to tie everything together with Saudi Israel that was pretty much ready when President Trump was leaving office it's a shame it didn't have the last years but that's someth..."

"infrastructure and their economies focus on AI I think a lot of these issues could be resolved pretty quickly and in a framework that could bring about I think a time of amazing Prosperity if LED corr..."

"leader I learned this the hard way when I was in Washington that there's not really a big constituency for compromise and these conflicts are very heated you saw when Elon Musk put out an idea for how..."

"you've been spending your last couple years as an and I'd love to tell the long detailed story of affinity and how you've settled on and continued to improve upon your thinking around strategy and whe..."

"businessman and going to Washington I was able to see that if you bring a business perspective to Global issues you can create outcomes that people didn't think were possible necessarily and when I le..."

"trying to do and so I wanted to build a firm that kind of aligned with the values of who I felt I was and what was interesting to me so some of them are number one always be curious learn about the di..."

"firm a base way and so we started exploring the world it was in 2021 but when I started the world's a little bit different than what I expected and it took us a while to get started and that turned ou..."

"companies and those were some of our best investments that we've made in that sphere and then I think what we've come to and it fits with our original thesis is that we basically are looking for Globa..."

"able to do so far you told me this great line one time which is that there are something like 10,000 publicly traded equities companies they're all pretty efficiently run they're all sort of unified b..."

"what it is we've been working on this now for about 18 months doing a participating preferred Equity investment in one of the leading infrastructure companies in Mexico and the thesis there at the tim..."

"but what I see in Mexico is a market that a lot of businesses have been chased out of but I think there's a big opportunity to invest there and I think from America's interests want to have a strong M..."

"at the different elements in these countries that are either going to drive growth or not drive growth so one of the most interesting projects I worked on when I was in government was we put together ..."

"is looking at different markets around the world we actually like the fact that we're Global in that regard because it allowed us over the last years where we were less certain about America given wha..."

"be a phenomenal investment that we made there another example is we made a big investment in Israel and we did that in the summertime right before the war in the North and we invested in a company cal..."

"sounds like pretty distinctive like I hear some traces of value investing or mispricings that you're focused on but also really big secular stories in big important countries I'm curious how you think..."

"we look for big macro Trends I learned when I was investing in real estate I could buy an office building in New Jersey and I could buy an office building in New York if I bought in New York I would h..."

"protections the right price the right can we add value but those are really the four things that we think about when we look at Investments and I keep it pretty broad because things change the way we'..."

"together about a year ago where he said to me think about how you feel in your stomach before you make an investment just remember that feeling and then if things go better than you expect or worse th..."

"the episode in government but also in some of the other stories that you wrote about you're very willing for a long time to not say much to sort of listen and learn and figure out what's going on figu..."

"the sense and then ultimately we'll be judged based on the returns of our fund which is an objective metric business and I believe over time that if we do this in the best way we could achieve Superio..."

"those what are the footsteps I guess is what I'm trying to ask each situation is very different so the story you talked about was in my book I wrote when I was training for Marathon at 17 with my fath..."

"able to happen and so my brother gave me some great advice too and I called a lot of my smartest friends we brought in Adam bowler Nat Turner and brat Smith Admiral jaah and we basically just camped o..."

"and at the time I was still trying to figure out masks and testing and so it wasn't really on my mind but I kind of stored that away and at the time we were building out our testing and we really had ..."

"jair come into my office on a Saturday afternoon and we were feeling great because we really thought that we'd turn this thing around and they said we have a problem I said what's the problem they sai..."

"alive so I said okay well you've got the job and so we put him in charge and I remember the media was attacking us said well he's got conflicts and I said if we hired somebody who didn't have conflict..."

"ones in the book and that I've heard you tell is often it's a relatively speaking small group of people that are working together intimately there's not a lot of layers of communication and they're ju..."

"this is a courageous effort I will say that only a president as out of the box as Donald Trump would ever allow something like this to happen it has happened I think during Bush and Reagan where they ..."

"things over the next bit did you get any time off I'm thinking about these two ends of the spectrum of government work the phrase government work was classically like nine to four or whatever Postal j..."

"not to step on the line and I think my biggest risk there was I knew I hadn't done anything wrong but it was don't do anything and trying to get out of it where you step on a line or you purger yourse..."

"mind like for my service in government which I volunteered for I didn't take a salary paid for my own healthare I've now done 33 hours of testimony between the house the Senate special Council grand j..."

"find that if you're just transparent about things then let the truth be the truth I'm curious going back to Affinity now and thinking about the way you spend your hours where you find yourself getting..."

"year to really understand it with deep research talking to different experts spending a lot of time with company management and what I realized is they manage over $150 billion dollar they're doing sm..."

"lot today tomorrow a lot yeah it's been a very good return 70 or 80% in less than a year but I'll be honest working with Brad I think there's a lot that we can complement to what he does but I'm learn..."

"everything that I've done what have you personally learned from watching him seeing him operate what's interesting to you about him he's incredibly charismatic he has a very good Vision he's intellect..."

"very methodical very detail oriented obviously it will change as they further progress in their business plan but so far I just like their commitment to exceptionalism and their desire to go for reall..."

"perspectives and styles but what I saw coming out of government was that the Middle East was just one of the most exciting and Rising parts of the world focused on how you can bring Economic Developme..."

"and we're finding it adds value to our partners but it also adds value to these American companies that we think are at the Forefront of a lot of innovation and so I would say that because we have suc..."

"very well so that's part of the world where I think there's a lot of great Innovation and excitement and just from a personal perspective it makes me very happy when we were doing our peace to Prosper..."

"exciting to be a part of I love the partnership with them and we've done incredible things together there's an anecdote in the book that really stood out we could talk about for a long time I'm sure I..."

"these guys are all close in that regard but it was very very nasty and they were working at Cross purposes which really hurt our ability to make a lot of progress the reason I got into it was basicall..."

"bring a resolution here so tamim says to me well how do you propose we proceed I said well should we just call him let's get him on the phone he saids no I don't want to call him we spoke two years ag..."

"he said the reason this has been so hard is because we like each other so much and it's a shame we brought our countries into this and after that we started negotiating back back and forth on the agre..."

"in because that block is about an economic project they've kind of have reversed you look at Iran you look at the Palestinians they're on kind of the old grievance and victimization and radicalism pro..."

"knows about but now they're exploring and finding minerals and natural gas and everything else their location is phenomenal they're the custodian of the two holy mosques which obviously if we think ab..."

"in the Saudi people and embrace of his reforms and the way they're behind him has been unbelievable and so it's very inspiring to see a country really shift in under a decade the way that that country..."

"AV but they showed me some of the stuff they were doing at the time which was very Cutting Edge in advance and it's just been a fascination of theirs and I think that the work that they've been doing ..."

"think they have very good geopolitical perspectives and I think that they've started to really because they did the World Cup they really have like almost no capex that they need to put in their count..."

"such an interesting balance between history present future you're such a future oriented person in this conversation and so much of this is not about Rel litigating the past but describing what could ..."

"thing how do you answer like that basic question about good evil who's doing the right thing who's doing the wrong thing how they're doing things you know and vision all in that big soup maybe I'll st..."

"scream at you one of the lessons I learned from the Middle East is that if people aren't screaming at you you're not on the right track because everything I went in and said and did for the first thre..."

"than they have been a long time Hezbollah was basically the gun that they had aimed at the host's head the hostage was Israel and what they would always say is that if you do something to us then we w..."

"the next four years they are very vulnerable and so they're going to have some very tough decisions to make maybe they are pure evil I don't know I've never met them but I would think that if there's ..."

"prosper tremendously so I see an outcome that's acceptable the question is whether leadership is capable of understanding that outcome and then sometimes you have leadership that's capable of understa..."

"for that this is based on the initial Investments they made in 2021 when at the time Trump didn't look political at all we were in a position where we were starting a business for the future it's been..."

"going to do good business in that regard so that's kind of how we're thinking about it so we preemptively try to avoid any conflicts so we don't have to raise capital for the next four years and we ha..."

"made I'd love to switch gears and ask you about Josh and Thrive when I was talking to him this weekend he said something very sweet which was as he thinks back on the early days of Thrive that there w..."

"businessman that he's become and the way he's kept himself grounded through this process and it's an extraordinary platform that he's built and most importantly I think it resembles him and who he is ..."

"about your dad there was a line in the book that was really powerful he said in life sometimes we get so powerful that we start to think that we are dealers of our own fate but we are not that line ju..."

"always try to do things the right way my father made a big mistake in his life he got into a sibling rivalry and that led to some legal issues they were fighting mostly over money which is and probabl..."

"excited for him to have this shift in life and he's built an extraordinary company and I keep telling my dad for what end at this point you don't need more money and you now have trained the Next Gene..."

"politics or anything else so that's kind of where my head is right now in the world I'm proud of what I've done in all these different areas and I have a lot lot of confidence because I see all the di..."

"vibrant over the long run what have you learned about Trump his strengths his weaknesses you spend a lot of time with him he's now the most focused on person in the world you have the benefit of knowi..."

"lucky to learn a lot about and then I also get to see the way he is with my children so like my little kid Theo just when we're in the summer together just follows him around all day sits with him in ..."

"involved in the biggest areas that will hopefully create the biggest outcomes for us if you think about the things that you don't know anything about in the world that you most would love to learn abo..."

"fascinating thing from a business perspective to be looking at and then obviously you know I have a lot of passion on the Middle East and the geopolitics there and I've been working closely with Steve..."

"but to your question on the Abraham Accords I think we got it started we got five deals done then we got the GCC deal done which was critical towards getting Saudi when I met with the Biden team in th..."

"think about the next four years what do you think are the most important things that the administration could or might do right now there's a lot of discussion about the hot issues around the world wh..."

"thoughtful way where America's values are the ones that rule the day if you think about your own future you said the thing that gets your intensity up is problem and opportunities and those are unpred..."

"way you told me once that if you want to make bad decisions ask for advice an interesting line you have a really interesting way of processing these kinds of decisions that being one of them but I kno..."

"method of being informed and then what I find is that now people with social media have the ability to give their replies as well so it's one of these things where you can't write one of these news ar..."

"information and I think that people should think about like I consume my news now mostly on X and then through podcasts and occasionally I'll look at the Wall Street Journal to go through it the post ..."

"vulnerable time just being there for people when no one else is there that means the world around that time there was a subway ride that you took I think for hours around New York City can you just cl..."